KUALA LUMPUR, July 4 — Short-term rates are expected to remain stable today on Bank Negara Malaysia’s  (BNM) intervention to absorb surplus liquidity from the financial system.

BNM estimated today’s liquidity at RM40.39 billion in the conventional system and RM16.68 billion in Islamic funds.

The central bank will conduct  a RM9 billion money market market range maturity auction tender for 2-92 days, one Qard tender Islamic Range Maturity Auction, valued at RM4 billion, for 7-31 days and a Commodity Murabahah Programme of RM200 million for 31 days.

BNM will also call for a reverse repo tender of RM290 million for 31 days.

At 4pm, BNM will conduct up to RM31.7 billion in conventional overnight tenders and a RM8.5 billion overnight Qard tender. — Bernama